President Trump and Vice President Pence have promised to reverse the Obama-era US-Cuba policy changes. South Florida Congressman Diaz Balart weighed in with his memo of proposed changes. Here is the text.
For all of the unknowns, a few things about Cuba’s future appear clear, including that economic changes are likely to be incremental and have modest effects; lifting the trade embargo would have only marginal financial effects on the Cuban people; and economic liberalization is unlikely to bring political change to Cuba.
Cuba is experiencing a wave of U.S. “unofficial” tourism. Even as the hidebound communist regimes claims it isn’t looking for U.S. investment, the contact with tourists and U.S. communications are changing Cuba from the bottom up.
The effectiveness and fate of President Barack Obama’s December 17, 2014, executive actions to alter elements of the U.S. embargo on Cuba will ultimately depend on how the regulations are written and interpreted in the Treasury and Commerce departments. Let’s hope the regulators in those departments follow the spirit of the President’s actions.